# CME lean hog futures weaken, USDA lowers 2022 price outlook

> The USDA's September monthly report raised its third-quarter pork production estimate by 0.9% from August as slaughter pace exceeded expectations. It cut its 2022 hog price forecast 3.4% to $71.30 per hundredweight. CME lean hog futures eased on the day.

- Date: 2022-09-12 · published 2022-09-12T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/39741-cme-lean-hog-futures-weaken-usda-lowers-2022-price-outlook
- Commodities: [Lean Hogs](https://feedsoft.ai/c/HOGS.md)

## Why it matters

Higher projected pork output and a lower price outlook point to more supply on the market, which is bearish for hog prices and weighs on demand for feed.

## Read by commodity

- HOGS: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| HOGS | 2020-11-11 | [CME update: lean hog futures weaken as corn prices surge
						 \| The Pig Site](https://feedsoft.ai/events/50300-cme-update-lean-hog-futures-weaken-as-corn-prices-surge-the-pig-site.md) | -0.6% | -3.0% |
| HOGS | 2020-11-13 | [Pig outlook: Lean hog futures starting to trend down
						 \| The Pig Site](https://feedsoft.ai/events/50298-pig-outlook-lean-hog-futures-starting-to-trend-down-the-pig-site.md) | -2.9% | -3.8% |
| HOGS | 2020-02-12 | [Cattle, hog futures lower following USDA report - Brownfield Ag News](https://feedsoft.ai/events/54713-cattle-hog-futures-lower-following-usda-report-brownfield-ag-news.md) | +7.1% | +8.7% |
| HOGS | 2019-12-17 | [USDA projects lower hog prices, adjusts meat production for 2020 - Brownfield Ag News](https://feedsoft.ai/events/55722-usda-projects-lower-hog-prices-adjusts-meat-production-for-2020-brownfield-ag.md) | +0.5% | -1.2% |
| HOGS | 2025-06-30 | [Pork Supply Outlook Following the June USDA Hog Survey - Pork Checkoff](https://feedsoft.ai/events/24359-pork-supply-outlook-following-the-june-usda-hog-survey-pork-checkoff.md) | -4.5% | -3.1% |

## Sources

- reuters.com: https://www.reuters.com/article/idUSL1N30J22A/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.